Mozambican savings fall for the fourth month in a row

Athe savings of Mozambicans retreated for the fourth consecutive month in August, to 291.636 million meticais (4.517 million euros), moving away from the historical maximum recorded at the beginning of the year, according to data from the Bank of Mozambique.

According to statistical data from the central bank, the volume of fixed-term deposits compares with 294,915 million meticals (EUR 4,567 million) recorded in July, a monthly fall of 1.1%.

These deposits reached a historic maximum in January this year of 304,675 million methics (EUR 4,718 million), after growing in the face of December. Since then there have been oscillations, with setbacks in February and March, recovery in April and new falls in May, June, July and August.

The value of August is 13,039 million meticals (202 million euros) below the maximum reached in January, reflecting a cumulative reduction of about 4.3% since the beginning of the year.

On the other hand, current deposits increased in August to EUR 521,612 million (EUR 8,081 million), after the €5,10,310 million (EUR 7,906 million) observed in July.

As a whole, the total bank deposits rose to EUR 813.248 million (12.598 million) in August, against EUR 805.225 million (EUR 12,473 million) in the previous month, driven by the growth of current deposits.

In Mozambique, 15 commercial banks and 12 microbanks operate, as well as credit unions and savings and credit organizations, among other financial institutions.

The reference interest rate for credit in Mozambique, known as prime rate, remained at 15.50% in November, prolonging the stability observed since May, after three reductions made in the first months of 2026.

The decision follows the maintenance of the monetary policy interest rate (MIMO) by the Bank of Mozambique, set at 9.25%, in a context where the monetary authority continues to seek to balance inflation control with liquidity management in the financial system.